Wedbush Weighs in on Sangamo Therapeutics Inc’s FY2022 Earnings (SGMO)

Sangamo Therapeutics Inc (NASDAQ:SGMO) – Wedbush issued their FY2022 earnings per share estimates for Sangamo Therapeutics in a report issued on Monday. Wedbush analyst L. Moussatos anticipates that the biopharmaceutical company will earn ($1.21) per share for the year. Wedbush currently has a “Neutral” rating and a $6.00 price objective on the stock.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $11.81 million during the quarter, compared to the consensus estimate of $10.37 million. Sangamo Therapeutics had a negative net margin of 157.66% and a negative return on equity of 31.81%. Sangamo Therapeutics’s quarterly revenue was up 333.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.27) EPS.

A number of other research firms have also weighed in on SGMO. BidaskClub raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Piper Jaffray Companies set a $25.00 price objective on shares of Sangamo Therapeutics and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Finally, Barclays began coverage on shares of Sangamo Therapeutics in a research report on Wednesday, November 22nd. They set an “overweight” rating and a $20.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $18.83.

Shares of Sangamo Therapeutics (NASDAQ SGMO) remained flat at $$20.55 during midday trading on Tuesday. 1,642,600 shares of the stock traded hands, compared to its average volume of 1,697,261. The company has a current ratio of 5.64, a quick ratio of 5.64 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1,736.91, a PE ratio of -29.78 and a beta of 2.87. Sangamo Therapeutics has a 1-year low of $3.65 and a 1-year high of $22.85.

In other news, Director Saira Ramasastry sold 5,000 shares of Sangamo Therapeutics stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $14.67, for a total value of $73,350.00. Following the sale, the director now owns 5,000 shares in the company, valued at $73,350. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Mento sold 11,520 shares of Sangamo Therapeutics stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $20.59, for a total transaction of $237,196.80. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $102,950. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,953 shares of company stock worth $1,618,193. 5.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Sangamo Therapeutics by 6.8% during the 2nd quarter. Principal Financial Group Inc. now owns 12,978 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 832 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Sangamo Therapeutics in the 3rd quarter valued at about $118,000. Virtu KCG Holdings LLC purchased a new position in shares of Sangamo Therapeutics in the 2nd quarter valued at about $124,000. Fred Alger Management Inc. purchased a new position in shares of Sangamo Therapeutics in the 4th quarter valued at about $148,000. Finally, Amalgamated Bank purchased a new position in shares of Sangamo Therapeutics in the 3rd quarter valued at about $158,000. Institutional investors and hedge funds own 64.22% of the company’s stock.

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About Sangamo Therapeutics

Sangamo Therapeutics, Inc, formerly Sangamo BioSciences, Inc, is a clinical-stage biotechnology company. The Company is focused on translating science into genomic therapies that transform patients’ lives using the Company’s platform technologies in genome editing, gene therapy, gene regulation and cell therapy.

Earnings History and Estimates for Sangamo Therapeutics (NASDAQ:SGMO)

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